Business News

NBS Bank, TNM send market higher

Share price gains in NBS Bank and TNM plc were enough to push up the indicative all share index by 33.56 points, according to a weekly report from the Malawi Stock Exchange (MSE).

In the same week, Mpico Limited lost 30 tambala to trade at K2.70 per share, the report shows.

TNM, with 20 million shares changing hands, gained by five tambala from K1.70 to K1.75 per share whereas NBS Bank shares went up to K12.50 per share from K11.09, according to the report.

The domestic share index (DSI), the gauge of domestic counters’ performance, inched up by 26.79 points buoyed by share price gains in NBS Bank and TNM plc.

The gain in TNM shares comes in the week when the company’s profit for the year went up to K1.3 billion from K1.1 billion the year-ended December 31 2011.

During the week, the market recorded trading activity in nine counters, namely; FMB with 4 816 shares transacted, Illovo Sugar (Malawi) Limited traded 19 961 shares, Mpico Limited 167 140 shares, National Bank of Malawi 4 816 shares, NBS Bank 300 000 shares, National Investment Trust Limited 143 457 shares, Standard Bank 2 987, TNM and Old Mutual plc (OML) 13 640 shares.

The local shares market has 14 counters.

Related Articles

Back to top button